Includes bibliographical references (pages 261-266) and index

Foreword / John Kenneth Galbraith -- 1. The defeat and the Occupation reforms. 1. Consequences of the defeat in the war. 2. The initial Occupation policy of the US. 3. The initial reform ideas on the Japanese side. 4. The Occupation reforms -- 2. The road to recovery. 1. The shift in US policy on Japan. 2. Arresting of inflationary trends. 3. Setting of a single exchange rate. 4. The Korean War and the aftermath. 5. The peace treaty -- 3. The period of high growth rate. 1. The "miracle" of rapid growth. 2. Capitalism rejuvenated. 3. Whence the effective demand? 4. Transformation of industrial structure -- 4. The role of the government in the high-growth period. 1. Overall planning by the government. 2. Administrative guidance. 3. Reclamation for factory sites. 4. Special tax-relief measures for industries. 5. The low-interest-rate policy. 6. The temporization of the trade- and capital-inflow liberalization. 7. Subsidies on water and electricity -- 5. A turning point cometh. 1. The first "oil shock" of 1973. 2. The structural creeping inflation. 3. Environmental concerns heightened. 4. Reflections on the welfare content of GNP index -- 6. The double "price revolution" 1. The coinciding of two "price revolutions" 2. The classical case of price revolution. 3. The consequences of the oil-shock price revolution. 4. Price revolution in urban land. 5. Major causes of price revolution in land. 6. The socio-economic consequences of the land-price revolution and the countermeasures. 7. Macroeconomic mismanagement -- 7. The march of corporate capitalism. 1. Capitalism "triumphant"? 2. A new stage of corporate capitalism in Japan. 3. The globalization trend. 4. Privatization -- 8. Whither Japan? 1. The trend toward convergence of the two systems. 2. The mixed economy as a mode of production. 3. The prospect for the Japanese economy and Japan's role in the world

Foreword by John Kenneth Galbraith

Gives a comprehensive account of the recovery process, from the punitive policies of the immediate post-war occupation authorities, to the miraculous growth which accompanied the Korean War, and the active role of the government in encouraging the continuing success which followed

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